Rivian Automotive, Inc RIVN Stock Price, Quote & News

what is rivian stock price

Since then, RIVN stock has decreased by 51.7% and is now trading at $11.32. Rivian is also building the Rivian Adventure Network, a series of charging stations along popular routes and out-of-the-way destinations. The charging stations can add up to 120 miles of range to a battery pack in just 20 minutes. The company is planning to launch at least 2500 stations nationwide.

The average price target represents an increase of 68.14% from the last closing price of $11.30. Shares of electric vehicle makers Rivian and Lucid fell Thursday after the companies reported stagnant production in their fourth quarter earnings. Thanks to this rise in production, Rivian has started to narrow its losses.

The company vehicles are designed for sustainability and long lifespans across all components with repairability and reusability key to the end result. That includes engineering specifications such as easily removable batteries and batteries that can be easily recycled or repurposed into stationary power packs when their EV lifespan is spent. Rivian Automotive, Inc. is an OEM EV manufacturer focused on pickup trucks and SUVs.

That hesitation is showing up in Rivian’s production and delivery expectations for 2024. The company said its backlog of orders had shrunk, partially due to fulfillment, but also due to cancellations and fewer new orders. Sign-up to receive the latest news and ratings for RIVN and its competitors with MarketBeat’s FREE daily newsletter.

what is rivian stock price

Will Ebiefung has no position in any of the stocks mentioned. The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 14th 2024. Rivian Automotive’s stock was trading at $23.46 at the beginning of the year.

Rivian faces a challenging road ahead as it navigates the complexities of the EV industry.

While EV adoption is expected to grow at an exponential rate over the next decade, there is no promise it will be able to ride that momentum. By looking at where Rivian has been and evaluating its current position, a clearer picture of where the company could be in the next three years comes into focus. “We firmly believe in the full electrification of the automotive industry, but recognize in the short-term, the challenging macro-economic conditions,” Chief Executive RJ Scaringe said in the company’s statement. Deutsche Bank analyst Emmanuel Rosner said in a note to clients that he now expects deliveries to be “flattish” in 2024 at 50,000 vehicles, as opposed to his previous expectation of 65,000 vehicles.

  1. Among the choices is the “Drift” mode which proactively distributes power to offset traction control and increase the “fun” factor.
  2. There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score.
  3. Looking at fourth quarter earnings estimates ahead of the report.

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. The Motley Fool has positions in and recommends Meta Platforms. “Rivian’s fairly bleak 2024 guidance, just2trade review including no volume growth and continued steep losses, in our view, showcases the company’s deep challenges ahead,” Rosner wrote. UBS analyst Joe Spak downgraded shares of Rivian to Sell from Buy. Ross Gerber discusses this, as well as if Rivian (RIVN) has a path to profitability.

What went wrong for Rivian?

The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s. It’s far from a guarantee that Rivian will benefit from the growth in the EV industry and come out on top. The next few years will be trying and a period where Rivian will have to prove if it’s a true contender or just another pretender. Birth rates have been trending downward in the U.S. for several decades and dropped precipitously during the pandemic.

The ABR is the calculated average of the actual recommendations (strong buy, hold, sell etc) made by the brokerage firms for a given stock. If the perfect storm unfolds in 2024 and there’s any hangover in 2025, Rivian’s position could very well be worse three years from now than it is today. The market has not been kind to Rivian’s (RIVN 0.18%) bittrex exchange review stockholders. Shares in the electric vehicle (EV) maker have lost a whopping 80% of their value as concerns over cash burn and lackluster growth mounted. Let’s explore what the next five years could look like for this exciting growth stock. The company offers five-passenger pickup trucks and sports utility vehicles under the R1T and R1S labels.

Founded in 1993, The Motley Fool is a financial services company dedicated to making the world smarter, happier, and richer. The Motley Fool reaches millions of people every month through our premium investing solutions, free guidance and market analysis on Fool.com, top-rated podcasts, and non-profit The Motley Fool Foundation. Longer term, Gianarikas urges investors to keep an eye out for additional such corporate fleet deals in 2024, as well as the unveiling of a new budget-priced R2 family of electric vehicles for individual consumer-buyers.

Rivian’s second-quarter earnings indicate where it could be heading over the long term. Revenue soared by 208% year over year to $1.12 billion as the automaker increased vehicle deliveries by 59% to 12,640. Rivian’s operations are scaling rapidly, and management expects full-year production of 52,000 cars in 2023.

Industry, Sector and Symbol

And with $11.6 billion in cash and equivalents on its balance sheet, the company can sustain operations without over-relying on debt or equity dilution. Management expects a positive gross margin by the second half of 2024, which could be the first step in eventual net income profitability. Right now, it only boasts two cars (the R1T pickup truck and the R1S SUV) and its commercial delivery van. But the company plans to release a new R1X off-road SUV this year, which could appeal to wealthy outdoor enthusiasts. Rivian’s Q4 earnings report is scheduled to be released on Feb. 21, which should provide a clearer picture of its future. Over the last three years, Rivian has made significant progress in terms of production.

Since 1988 it has more than doubled the S&P 500 with an average gain of +24.18% per year. These returns cover a period from January 1, 1988 through January 1, 2024. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return.

Looking at fourth quarter earnings estimates ahead of the report. On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

To cope with the softer demand, EV makers have engaged in a price war, putting even more pressure on unprofitable players like Rivian. But while industry challenges have dampened appetite for Rivian’s stock, they haven’t stopped Forex Brokers the company from enjoying massive growth. Based on short-term price targets offered by 22 analysts, the average price target for Rivian Automotive comes to $19.00. The forecasts range from a low of $8.00 to a high of $36.00.


Добавить комментарий

Ваш адрес email не будет опубликован. Обязательные поля помечены *